If the price of a product falls to what is considered a bargain price, a shortage would occur.
A shortage occurs when the quantity demanded exceeds the quantity supplied. A shortage occurs when price is below the equilibrium price.
A surplus is when the quantity supplied exceeds the quantity demanded. A surplus occurs when price is above the equilibrium price.
When the price of a good falls to what is considered a bargain price by consumers, it means that the price of the good is below the equilibrium price.
When the price of a good is below equilibrium, quantity supplied would fall and the quantity demanded would exceed supply. As a result, there would be a shortage.
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Answer:
B. Customer Equity
Explanation:
In its focus on bottom-line financial value, the customer equity approach offers limited guidance for go-to-market strategies and does not fully account for competitive moves. Customer equity can be defined as the total value of all the customers of any firm. It means any firm will have more customer equity if has large number of customers who make frequent purchases as well. Customer loyalty is directly proportional to the customer equity, more is the customer loyalty, the more will be the customer equity of any brand. Although it is very much important for any business but it does not tell about the go-to market strategies and competitive moves that what business you should be in and what business you could be in.
Answer:
when the velocity of money is high, it means each dollar is moving fast to purchase goods and services. It reflects high demand,which generates more production. When the velocity is low, each dollar is not being used very often to buy things.
Answer:
The answer is:
Inelastic
Elastic
Explanation:
Nita’s demand for Coca-Cola will be relatively more inelastic i.e his demand will not be sensitive to price. Increasing the price of Coca-cola will not make Nita to change its taste because he is a devoted Coca-Cola consumer.
Becky’s demand will be relatively more elastic because he has an option to choose between Pepsi and Coca-cola.
Any increase in price of Coca-cola will make Becky to shift to Pepsi.
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